Ramiah Investment Group Purchases New Stake in Regions Financial Corporation (NYSE:RF)

Ramiah Investment Group acquired a new stake in Regions Financial Corporation (NYSE:RF - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 20,696 shares of the bank's stock, valued at approximately $450,000. Regions Financial comprises approximately 0.5% of Ramiah Investment Group's holdings, making the stock its 25th largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in RF. Valeo Financial Advisors LLC lifted its stake in shares of Regions Financial by 21.0% in the 1st quarter. Valeo Financial Advisors LLC now owns 14,268 shares of the bank's stock valued at $310,000 after purchasing an additional 2,478 shares during the period. CapWealth Advisors LLC boosted its holdings in Regions Financial by 4.2% during the first quarter. CapWealth Advisors LLC now owns 15,756 shares of the bank's stock worth $342,000 after buying an additional 640 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new position in shares of Regions Financial during the 1st quarter worth about $245,000. Hourglass Capital LLC acquired a new position in shares of Regions Financial during the 1st quarter worth about $3,516,000. Finally, Crossmark Global Holdings Inc. increased its stake in shares of Regions Financial by 4.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 516,421 shares of the bank's stock valued at $11,222,000 after acquiring an additional 19,741 shares during the last quarter. 79.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Regions Financial in a report on Wednesday, May 21st. They issued a "hold" rating and a $24.00 target price on the stock. Wall Street Zen upgraded Regions Financial from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. TD Cowen assumed coverage on Regions Financial in a report on Thursday, May 15th. They issued a "buy" rating and a $31.00 price target for the company. Wells Fargo & Company dropped their price target on Regions Financial from $28.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Friday, March 28th. Finally, Citigroup boosted their price objective on Regions Financial from $26.00 to $27.00 and gave the company a "buy" rating in a research report on Wednesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.15.

Regions Financial Stock Down 0.6%

RF stock traded down $0.16 during mid-day trading on Friday, reaching $24.68. The company had a trading volume of 6,445,149 shares, compared to its average volume of 8,375,697. The company has a market capitalization of $22.19 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.95 and a beta of 0.98. Regions Financial Corporation has a 52 week low of $17.74 and a 52 week high of $27.96. The stock has a 50 day simple moving average of $22.34 and a two-hundred day simple moving average of $22.39. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.84 and a quick ratio of 0.83.

Regions Financial (NYSE:RF - Get Free Report) last issued its earnings results on Thursday, April 17th. The bank reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Regions Financial had a net margin of 21.43% and a return on equity of 13.04%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.84 billion. During the same period in the previous year, the company earned $0.37 earnings per share. As a group, equities analysts predict that Regions Financial Corporation will post 2.26 earnings per share for the current fiscal year.

Regions Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Friday, May 2nd were paid a $0.25 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.00 annualized dividend and a yield of 4.05%. Regions Financial's dividend payout ratio (DPR) is currently 48.08%.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.